Do you know what is taxable at your convenience store or gas station? Your decisions about your back-office system (BOS) and point-of-sale (POS) tech could make all the difference in the Texas Comptroller’s audit approach and outcome.
When the Texas Comptroller’s office goes about auditing a c-store’s accounts, the POS in use influences how they approach their audit. The following are some things you should know to ensure a clean audit.
The Texas Comptroller knows that when you use tax and non-tax keys, you rely greatly on the cashier’s knowledge, proper training and error-free entries. Because of this, they may use tests to determine:
In addition, they may:
It may also surprise you to know that the Texas Comptroller understands the fundamentals of more sophisticated POS technology and its integration with back-office systems. Their approach, in this case, seems less burdensome.
An audit of a taxpayer using the “product code” system may be limited to:
Every retailer needs to determine the cost-benefit of investing into POS-enabled back-office technology. This is just one example of how this automation helps c-store and gas station retailers.